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Russian shipyard starts serial production of Aframax oil tankers

The Zvezda shipyard has commissioned the steel cutting for a second 114,000-tonne deadweight (DWT) Aframax tanker. Rosneft CEO Igor Sechin and Acting Head of the Primorsky Region, Oleg Kozhemyako, attended the ceremony. The event marked the serial production launch of state-of-the-art, crude oil tankers at the Zvezda shipyard. According to Rosneft, Aframaxes will be the first vessels of its kind constructed in Russia. The lead ship is expected to set sail in 2020. “Tankers will be powered by two types of fuel, including gas, meeting the recent environmental requirements. The ...

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Daewoo Shipbuilding claims progress in talks with Angola’s Sonangol

The head of Daewoo Shipbuilding Marine & Engineering Co. on Thursday heightened the prospect that the world’s second-largest shipbuilder by orders could work out its differences with Angolan state oil company Sonangol over a delay in the delivery of two drill ships. “There is a good prospect (of it happening),” CEO Jung Sung-leep said in a news conference at the company’s headquarters in central Seoul. “Negotiations are well under way” over how much Daewoo Shipbuilding will receive from the Angolan oil firm for the delivery of the two ships. Under ...

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Japan: Skilled foreign workers allowed for shipbuilding

The government plans to open up the construction and shipbuilding industries to skilled foreign workers under a visa program that will pave the way for new arrivals to gain permanent residence in Japan. “At present, the government is considering the use of the new visa program for the only two industries, construction and shipbuilding,” Chief Cabinet Secretary Yoshihide Suga said at a news conference on Nov. 14, referring to the No. 2 category under the proposed new residence status of “specified skills.” The government is set to pass a revision ...

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GTT receives an order from HHI to design the tanks of two new LNG carriers

GTT announces it has received an order from the Korean shipyard Hyundai Heavy Industries (HHI) for the tank design of two LNG carriers. Each offering a capacity of 174,000 m3, these units will be built on behalf of the Greek ship-owner Cardiff. The tanks will be fitted with the Mark III Flex containment system. The vessels’ delivery is expected for the end of 2020 and beginning of 2021 respectively. Philippe Berterottière, Chairman and CEO of GTT, declared: “We are pleased to pursue our partnership of excellence with HHI shipyard and ...

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Daewoo Shipbuilding shifts to Q3 net loss due to one-off losses

Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipbuilder by orders, said Wednesday that it swung to a net loss in the third quarter from a year earlier due to one-off losses. The net loss reached 323.9 billion won (US$285.1 million) in the three months ending Sept. 30 from a net profit of 74.9 billion won during the same period last year, the company said in a statement. Daewoo Shipbuilding blamed the net loss on its sale of Daewoo Mangalia Heavy Industries. In July, Daewoo Shipbuilding sold Daewoo Mangalia ...

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STX invests $6 mn to build LPG tank terminal in Russia

STX Corp., a South Korean trading company recently sold to Chinese fund AFC Mercury, will invest $6 million to build a liquefied petroleum gas (LPG) tank terminal in Khasan, Primorsky Krai, Russia, where the borders of Russia, China and North Korea converge. STX said on Wednesday LPG to be stored at the new storage in Russia will be mainly delivered to China and pins high hope on its LPG storage business in the region that lacks LPG storage facilities despite active LPG trading between Russia and China. It hopes the ...

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Damen hands over four FCS 2610 vessels to Allianz during ADIPEC

Damen Shipyards Group has handed over four new Fast Crew Suppliers (FCS) 2610 to Allianz Middle East Ship Management. The handover took place between Ahmed T. Khalil, general manager of Allianz, Menno Kuyt, managing director Maritime Craft Services (MCS) and Pascal Slingerland, Damen regional sales director. The four FCS vessels have been equipped with hydraulically operated bow gangways – the first of their kind. Damen has developed the gangways in cooperation with oil majors and vessel operators. They are adjustable and can facilitate safe crew transfer at any offshore structure ...

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Nam Cheong back in black with Q3 profit of RM396m on debt revamp gain

Offshore marine group Nam Cheong turned profitable in the third quarter on a one-time gain from debt waiver and improved gross profit margins. Net profit for the three months ended Sept 30 was RM396.01 million (S$130.38 million), reversing from a net loss of RM48.79 million for the year-ago period. Earnings per share for Q3 was 17.6 Malaysian sen compared to loss per share of 2.32 Malaysian sen for the year before. Revenue jumped 20 per cent to RM94.71 million on increased contributions from both the shipbuilding and vessel chartering divisions. ...

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Japan Files Complaint against S. Korea with WTO over Shipping Subsidies

Japan has filed a complaint against South Korea with the World Trade Organization(WTO) over subsidies paid to South Korean shipbuilders. According to a WTO filing published on Tuesday, Japan claimed that the measures in question relate to the development, production, marketing, and/or sale or purchase of commercial vessels, including vessels designed to carry crude oil, liquefied natural gas, and shipping containers. In the complaint, Tokyo requested bilateral consultations with South Korea, the first step under the world trade body’s dispute settlement process. If the talks break down, the case will ...

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Damen Shiprepair Curaçao floating dock operational

Damen Shiprepair Curaçao (DSCu), has on 2 November commissioned its large floating C dock. After the final tests had been carried out in the morning, the C Dock was submerged onto the equalized seabed. DSCu Nautical department, with the help of local KTK pilots and tugs subsequently docked the first commercial ship, a 63,400 tonnes deadweight bulkcarrier, thus putting the C dock into service. “This marks a special milestone and we are very proud of this,” Lodewijk Franken, DSCu’s managing director commented about the 230 by 45 metres Panamax-class dock. ...

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Layoffs in the cards at troubled shipyards

South Korea’s embattled shipbuilding giants may conduct a wave of year-end layoffs in line with self-rescue measures agreed upon with creditors, industry sources said. Stung by snowballing losses from tumbling orders and heavy debt, Daewoo Shipbuilding and Marine Engineering Co. (DSME), Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. (HHI) have promised creditors a range of restructuring steps, including layoffs. According to the sources, DSME chief executive Jung Sung-leep is slated to hold a news conference on Thursday, where he may announce plans to dismiss workers. DSME’s self-help plan, ...

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GTT notified by Hyundai Heavy Industries for the tank design of a new LNG Carrier for Thenamaris

GTT has received a order notification from the Korean shipyard Hyundai Heavy Industries (HHI), concerning the tank design of a new 174,000 m3 LNGC, on behalf of Greek ship-owner Thenamaris. GTT will realise the design of the tanks of the vessel, which will be fitted with the Mark III Flex membrane containment system, a proven technology developed by GTT. The delivery of the ship is planned during the first quarter of 2021. Source: GTT

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Fast Delivery Of ‘BELOE More’ To Complete Job In Siberian Harbour Before Winter

The Beloe More recently joined its sister vessel Severnaya Dvina in the Port of Sabetta, northern Russia. The 2,000 m3 hopper dredger was delivered from stock to FSUE ROSMORPORT. The customised hopper dredger will perform maintenance duties and execute capital dredging in the newly created harbour. The Beloe More – meaning ‘White Sea’ in Russian – is not the first vessel Damen has delivered to ROSMORPORT. As Vadim Akimov, Damen Sales Director, explains : “ROSMORPORT is the Russian enterprise responsible for the accessibility of all major Russian sea ports. Their ...

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Yangzijiang Shipbuilding Receives Buy Rating

Yangzijiang Shipbuilding (YZJ) delivered a 23 per cent year-on-year rise in revenue to 5.4 billion yuan (S$1.07 billion) and a 10 per cent fall in net profit to 866 million yuan in the third quarter this year, bringing net profit for the first three quarters to 2.4 billion yuan. This is a much better-than-expected set of results, with earnings for the first three quarters of the year accounting for 94 per cent and 90 per cent of our and the street’s full-year estimates, respectively. Gross profit margin for shipbuilding was ...

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Hyundai Heavy receives U.S. cyber security certificate for tanker

Hyundai Heavy Industries Co., the world’s largest shipbuilder by sales, said that it has received a cyber security certificate from the American Bureau of Shipping (ABS) for an oil carrier. It marked the first time in the world that Hyundai Heavy received the Cyber Security Ready (CSR) for a very large crude carrier. Paul R. Walters, director of the Global ABS CyberSafety program, said this Cyber Security Ready (CSR) model is a powerful tool for protecting marine assets from various threats. “As a global leader in marine cyber security, ABS ...

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